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tv   World Business Today  CNN  February 4, 2011 4:00am-5:00am EST

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increasingly draconian and desperate measures to try and stop information, especially images from getting out of here. >> ivan watson, stay safe, please. thank you very much for that report. and thank you for watching "piers morgan tonight." our thoughts tonight are with our fellow journalists in egypt. they're doing a great job. . good morning from cnn london, i'm charles hodson. >> and a good afternoon, i'm manisha tank. this is "world business today," the top stories on friday, february 4. security will look at the damage done to the country's
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economy and the violent protests. in jordan king abdullah tries to appease his people and revive the economy, but poverty is causing almost daily protests. and australia's farmers are investigating their devastating plantations after cyclone yasi. that's one journalist's impression from tahrir scare today. they're calling this friday the day of departure for president mubar mubarak. these are pictures from tahrir square on friday after two days of frequent fighting between supporters and supporters of anti-mubarak. troops in riot gear with automatic weapons are posted around the square and on the nearby bridge. protesters say they plan to march to the presidential palace. the journalists we spoke to have stacked piles of rocks, sticks,
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and clubs, and they're told to, quote, expect something to happen. another quote from the president. he's fed up and would like to leave office. he can't immediately resign because that would mean chaos. he said he would never leave the country or as he put it, rub away. he says he'll die on egyptian soil. meanwhile a tax on journalists. this video from anderson cooper. within 24 hours they recorded 30 detentions, 26 assaults, and eight cases of equipment being confiscated. both cnn correspondent fred pleitgen also incurreded it this morning. i gather, fred, you've been on a bit of a walkaround in the city. tell us what you saw. >> reporter: i saw what you've
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been describing. right now the scene is quite peaceful at the entrances to tahrir square, especially to the mainland where you've been seeing all the rioting the past couple of days. you see the metal sheeting plates in position. there are many who see they're framed right now. the thing that sticks out is the increased military presence. it's different than what we've seen the past couple of days in that you're seeing a few tanks here and there, but you're seeing a lot more foot soldiers on the ground and that to me seems to be what was lacking over the last couple of days. you can't stop a crowd with a tank without causing massive carnage. they set up check points and roadblocks of their own and they're also on bridge over the
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nile and checking people. the bridge has been used as a parking place to try to get to these areas the past couple of days. >> what about the army? there's more foot soldiers, more infantry out there, but is there a sense among people generally that the army is generally neutral in this or possibly split? its interest is you like order rather than seeing one side or the other. >> reporter: it seems the army is still fairly neutral. both sides have been trying to get the army on their respective sides. this has actually led to some of these street battles ending earlier than they might have in other cases because people are simply afraid to get soldiers in between them. the soldiers have sometimes had to fire into the air to assert themselves, but generally they are sort of a mitigating force
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between these two sides. it's not clear what side they stand on. certainly i have seen from walking around the square that there is quite a good and positive atmosphere between the soldiers on the ground and the antimubarak protesters. i'm not sure what's going on on the other side of the equation. but it certainly doesn't seem as though the soldiers on the ground, the foot soldiers, if you will, are aversed to these protests. they seem to be dealing with the protesters in a very friendly fashion. the army on its part, it seems to us at the moment they're standing behind hosni mubarak and want him to finish his term because certainly they are keeping the soldiers in the street and they've not forced them to stand down yet. and a lot of people believe that they could, they could be doing what they want to do, but right now that's not what they're doing, charles. >> fred, let's leave it there for now. many thanks to fred pleitgen.
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manisha. >> he has just been to tahrir square. tell us a bit more how people are feeling there as they gather. you know, ivan, the interesting thing, of course, it's friday. it's often the case in tahrir square, it's often the case people come out and mingle. but what you saw was something else. >> reporter: that's right. coming to you from inside tahrir square. we're inside right now. right now you're looking at a stage that's been erected and there's a man speaking on a loud speaker, giving speeches to the crowd. the crowd here is growing and swelling. there are thousands and thousands of people here and more hundreds lined up to come in from one of two bridges across the nile bridge, and there you have army soldiers working together with the organizational committees of the
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demonstrator checking people as they come in. we saw people coming in bringing boxes of water, surprise for the people. you may be able to see there's like a traffic island here where some of the people have been sleeping, now this has been going on for two nights. there's a vigil here where people have been camped here as it continues. it's important to know we're not seeing any sign this morning to sunrise of the opposition demonstrators who were attacking the barricade for the past two days and two nights. they have dispersed, and there are now scores of soldiers in riot gear that are maintaining order. the atmosphere has changed dramatically. i no longer feel threatened walking along the banks of the nile river, moving around here after two days of systematic attacks on foreign journalists and human rights workers as well
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as egyptian journalists. you can see people sleeping on the sidewalks here. they look exhausted, manisha, many of them bandaged, many of them veterans of 48 hours of brutal clashes, but waving victory signs as we walk past. you can see tents that are lined up here on the sidewalk. and as the camera pans in the direction north, you start to see the view in the direction of the famous egyptian museum, which has been next to the focal point of all of the clashes that we've seen, the bloody clashes, many of them, over the past 48 hours. those clashes, again, seem to have come to a stop for the time being thankfully. here you can see tanks around the monument, the white lab coats of medics who have been treating, according to official government statistics, more than 800 wounded people over the past
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48 hours of fighting. according to officials, eight people killed thus far, and there have been enthusiastic demonstrators. you can see them making a human chain around the egyptian military there, and previously there were people waving egyptian flags and chanting. again, this charm effort to try to keep the military friendly with the demonstrators. i saw one demonstrator at the entrance to the square kiss an army officer on the shoulder. monita? >> incredible scenes against the anti-mubarak protesters. thank you very much for that update on the ground in cairo. it's clear that the violence from earlier in the week has taken its toll. days of chaos have also caused major damage to the country's economy, especially tourism.
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>> translator: one million tourists went out these past days so you can imagine the losses in nine days. we lost $1 billion only from the tourism, so the continuation of this issue is a destruction of the state and not a call for reform. >> that's from the vice president there. well, tourism isn't the only industry that's suffering. the stock market and the banks have been shut for days and the third major credit company has downgraded. no downgrade like this, no matter what the political outcome, is just going to be bad for the economy. >> it is, manisha. and that's something we've heard from people on the ground and investors we've spoken to as well. they just want to see some kind of resolution as quickly as possible to the political situation because that can only harm business. people just want to get back to
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business, back to some kind of nor malt. you mentioned the fitch ratings at this third credit agency that ease downgraded egypt's debt rating in the last week or so. we've also got s&p and moody's, they did the same earlier in the week. now the cost, the economic cost, you heard from the vice president there, we got estimates from the vice president which said that they think the unrest in egypt is costing $300 million a day. that's a huge cost and it's mounding every day that this situation is not resolved. now, on the upside we are expecting the stock market to reopen on monday. it's been shut since january 27 when the unrest began. we saw egypt main stock exchange drop more than 10% on that day, so it will be welcome news for investors to see that stock market open again on monday. you know, when this unrest began, manisha, we saw a selloff across the markets.
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across the gulf we saw it. we saw it on wall street. the s&p lost its biggest losses in a single day when the unrest began. even in the gulf country, we saw all the main forces last sunday lose up to $10 billion in total market cap. they have made back many of those gains. if we take a look at how those markets closed the week, we will see that actually many of them ended up higher, saudi arabia in particular, which had seen the biggest losses last sunday. manisha? >> well, it's incredible to think, isn't it, so far as stocks in cairo go, if they fell that much when all of this broke out, i'm sure there will be investors moving in there trying to do bargain hunting when we try to get back to business on monday. >> we can expect that since the markets dropped so sharply on sunday, however, people are a little bit concerned, of course, because of the instability in the situation. they want to see some kind of resolution.
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i should also point out another piece of good news, manisha. the banks are expected to open on sunday, which, again, will be welcome news since no one's been able to withdraw any cash since january 27. we don't know if there are are any restrictions on amounts of cash you can pull out. there may well be. some restrictions on foreign exchange to avoid capital flight but overall that's good news for investors as well. >> all right. thanks a lot for that. charles. the ongoing chaos in egypt doesn't seem to be rattling the markets in europe in this particular session. it's been a good day and we're looking forward to the nonfund payrolls in the united states in four hours' time, four and a quarter hours' time. we'll look at those european markets actually. up by 30%. that's the general number. we're seeing a bit of strength
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in the banks. one loser, though, in paris, that's off 1%. it slightly missed expectations. it certainly seems to be encouraging people over here. >> well, definitely some encouraging numbers here. actually the asia-pacific stock change. japan's nip pon has merged. their stocks also soared on this. meanwhile in australia the main benchmark rose. this is after the central banks said the growth would be bigger than expected by the end of the year and the 4.25% up than earlier. most markets in this region are still closed for the lunar new
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year holiday. elsewhere, though, the rising tengs in egypt put u.s. investors somewhat on edge on thursday, but reassurance from are fed chairman ben bernanke said the economy is on the mend. we look at how the numbers actually settled by the close of play. the dow and the nasdaq beganing 1% and the s&p gaining .25%. in the meantime u.s. markets look set for a mostly higher open. that's when trading will begin later on wednesday. we're having a look at the futures there. you can see an upper frangs for the dow and the nasdaq future. a touch lower for the s&p 500 you can see. but, again, just a fraction. so it's not all bad, charles. casualties low, damage, high. residents are counting their blessings after one of the state's most powerful cyclones in a century. we'll show you some of the losses farmers face as well.
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welcome back. you're watching "world business today" live on cnn. the chances are that food costs more today than it did a year ago. you're certainly not alone. food prices worldwide are at record levels. they have released its food price index for january. it's been climbing for seven months and it's now at its highest since the index began 20 years ago. it's even higher than it was in 2008 when the cost of basic food led to riots. manisha. well, i can tell you, charles, one thing that won't be making food any cheaper is the bad weather in australia, as if last month's floods weren't enough. tropical cyclone yasi hit queensland this week and it caused massive damage to the
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state's sugarcane crop. the cyclone also wiped out three quarters of queensland banana crop. one industry's executive estimates that the storm caused $500 million in damage to sugarcane fields. our anna corinne is there and checked on damage with the farmer there. >> reporter: it has really hit producers up here in queensland. those plantations have been completely wiped out. as you can see, these crops have been devastated. we caught up with farmer david defranchisi here to find out the impact on the sugarcane industry. >> my cousins up north, they're
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going to feel bad for a couple of years. i don't know if they're going to really recover that well. we keep going because we're resilient and we will keep going, but yasi just keeps -- destructions like we're having keep adding the pressure, pressure all the time on the agriculture's industry. we do it because we love it, but we need help. up north the winds were heavier and they cut the cane like that. here the wind has come from one direction. the cane has lied down. it hasn't broken. >> broken hearts up north. would say a lot of broken hearts. i hope that people get counseling because they'll need
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it. >> what does this do to a farmer who takes hit after hit year after year. >> the trouble with farmers, we always seem to be tough on the outside. inside -- it's -- >> it's your livelihood. >> it's our live liehood. >> what does it mean for consumers in australia and i guess around the world because, you know, australia exports sugar. >> well, not only the sugar industry, but, you know, we've had the floods with the agriculture. food prices are going up all in australia. the banana industry has been wiped out again for the second time sugar is going do get affected and that's going to affect everyone in the world. >> really tough on farmers. that was anna coren reporting from north queensland. charles. the meeting with jordan's
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king. how protests in ahman are affecting business.
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in hong kong and london. this is "world business today." they called today president mubarak's day of departure. they say they'll go ahead with today's protest plans,. a meading with king abdullah has apparently not changed their mind. we have a report from armin that the situation isaffecting business. >> reporter: it bustles with activity full of small stores
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and lots of traffic. it's another working day. business as usual except usual is not what it used to be. >> translator: the outside has seen biscuit in half as jordanians feel the economic pressure. >> translator: i used to make $4,000 a month, he says. i imported products from china. now it's down to $2,000, and people don't pay cash anymore. >> translator: will he join protests, i ask? he's too old, he relies. he'll leave that to the young people. but not all the young people feel it's worth protesting. across the street, 15-year-old fruit seller says he's left school and does not have much goal for the future. nothing will change. he'd like to leave jordan if possible.
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>> reporter: it's expensive to live in armin. a lot of people are poor. they cannot afford the basic needs of life. and these people have been going to the streets, demonstrating, asking for more political and economical reforms. jordan's economic troubles and a lack of political reform are the rallying cry of the islamist opposition. one of its most prom next figures says he does not want to see events in egypt beat us here, but the powerful need to take the pulse of the people. >> translator: the social conditions here are difficult, and when political and economic conditions worsen, social violence worsens. we suffer now from social violence. >> reporter: there are small protests almost daily in armin, some called by students energized by events in tunisia and egypt.
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they want a more open democracy and of course the just appointed prime minister. >> we tried this man before. he can't help our demand. >> reporter: but the protests are not aimed at king abdullah who remains generally popular here. >> it's only one person here in jordan. there's only one person here in jordan we trust. it's only the king. >> reporter: as reporters say the king is ready to use that trust to inoculate jordan to increase its trust. >> they gain an opportunity by seizing that moment, the formal government to give as its main mandate to stop political reform as it has in the past and empowering reform-oriented voices against vested interests in old guards that have been blocking the process.
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>> reporter: now as the arab world is shake bin protests and hardship, jordanians on all side seem united in at least one cause. change must come and fast. well, you're watching "world business today." more coverage on egypt just ahead. ste like chocolate. it has 35% of your daily value of fiber. tasty fiber, that's a good one! ok, umm...read her mind. [ male announcer ] fiber one chewy bars.
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hodson. >> and i'm manisha tank in hong kong. welcome back to "world business
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today." we, of course, have been monitoring events in cairo on this friday. thousands of anti-government protesters are calling. they're asking that mubarak resign by the end of the day. army soldiers dressed in riot gear and carrying automatic weapons are surrounding the square and controlling access on a nearby bridge. state media report that egypt's defense minister and other top military officials are, in fact, visiting the square. it's not clear why. our correspondents there tell us the mood around the square is tense but calm. now, one billionaire businessman is speaking out about egypt. branson recently said this on his blog. they should get a clear message of intent that mubarak must step down immediately. everyone i have spoken to want the same thing. a properly elected democracy
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continues in egypt as soon as possible is what he's referring to. well, branson later told cnn na making money under a dictatorship is bad business. >> i actually believe that business leaders should also play a part and we shouldn't leave it to politicians to speak out. you know, there are a lot of repressive leaderships in the world, and i think now is an opportunity to rid the world of them. i think democracy is obviously right for the people of these countries, and it is much better, i think, for business to trade in a democracy than it is under a dictatorship. well, instability in egypt may also -- is also rubbing up more generally on financial markets in emerging nations. how are investors reacting to the uprising and how will it affect the future. we have a market strategist and
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joins us now live from the hague. how severe do you think the damage will be to egypt's long-term economic prospects as a result of all this? >> well, at this point it's very difficult to say what will happen with the transition of power but it's a very good investment story. it's a strong demographics picture. >> january has been a rather unpleasant month for emerging markets after the events in north aftricafrica, tunisia, an egypt. do you think things will calm down a little bit in february? >> i think it depends what happens in the middle east. we know the markets have been a cause of oppression for not only asian countries but countries like turkey and brazil.
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if there continues in the middle east, the food prices can stay with us longer and it can stay with us for longer than just a few weeks. >> now, in terms of what happens next in egypt, are there severe worries on your part that the situation will spiral out of control and that long-term potential for egypt, which you've identified, simply will remain out of grasp? >> well, i think it depends on what kind of new government we will get. normally you would expect that a new government is more democratic and also more key to making good reforms which are goong for longer-term prospects. at the same time at the base of these problems are high food prices and it's likely the case that the new government will increase subsidies to take pressure after the situation where food prices are concerned, and that coin actual-- could de
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long-term growth. >> what you're saying is the governments will push themselves further into debt in order to overcome the immediate food price crisis and that's going to be damaging. >> that could be the case, yeah. but, of course, it can come up with other kinds of reforms to compensate for that and longer term, as i said before, longer term growth prospects are very good for egypt because of demographics. so i don't think they're going to change dramatically, but for the next few years we could see it. >> okay. maarten-jan bakkum. many thanks. the euro is softening again. the euro had a bit of a down day on thursday but it's now up a tenth of a percent and the pound, a similar sort of picture. the yen, though, losing a little bit of ground, 81.57 is the
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number there. on thursday jean-claude trichet he poured cold water on investors rise suggesting that ecb has no plans for an increase any time soup, kind of defied expectations. the remarks came after euros left interest rates at their current record low of 1%. >> we continue to see evidence of short-term upward pressures on overall inflation, mainly owing to nermg and coal price. this so far has not affected our assessment that price developments will remain in line with price over the event origin. at the same time it's warranted.
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while uncertainty remains elevated. our monetary analysis indicates that inflationary pressures over the medium to long term should remain contained. >> well, inflation is the talking point worldwide right now. u.s. federal reserve chairman, he was also talking about this issue on thursday. ben bernanke made a rare appearance. he said surging food and energy prices around the world were not the result of the fed's loose monetary policy. instead he blamd quickening inflation on price constraints. he also said there are signs of improvement in the u.s. economy but he does expect inflation to remain below a level that would boost job creation. >> in some, though economic growth will probably increase we expect chi to remain stubbornly below.
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with our man date from the congress to foster maximum employment and price stability. >> ben bernanke said a full economic recovery in the u.s. would depend on stronger and more sustained jobs growth. of course, charles, these are two guys that everyone listens to. >> absolutely. and the european markets no doubt and the investor in them have been thinking about what they've been saying. a look at the european stock exchange, the full principled indices. we're looking at some of decent gaines by merely half a percent in the case of the london ftse and the paris and zurich smi. zee tra dax up by a quarter of a percent. one stock doing well. that's heidelberg cement up about 1% last time i looked.
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>> i can tell you over here steal is up. that creates the world's second biggest steal company. their stocks soared on this news. meanwhile australia's main benchmark roechltz gdp will be much better than expected by the end of the year. forecast to be 4.25%. that's up earlier from 3.75%. we're still closed for the new year holiday. the economy is slowly mending but job growth continues to weigh on the recovery. we'll have a bigger read on that later on. all three major indiceses ended the day with the dow rebounding from a 60-point drop earlier in the day and seeming to be fairly comfortable above the 12,000
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level. there we are. 12,060 and some. in terms of the futures, they point to slight gains at the opening bell on friday. obviously the nonfund payrolls, will be due out in four hours' time at 8:30 a.m. before the bell goes, 8:30 new york time. will show it added 148,000 jobs in january compares to 103,000 in december, however, they do think the unemployment rate will-inch back up from 9.4% to 9.5%. in other words, it will not be suv to stop the unemployment rate to keep from rising. we'll bring you those numbers as soon as we get them on cnn. manisha. >> we'll look forward to that. that's it for this edition of "world business today" for now. i'm manisha tank in hong kong.
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>> i'm charles hodson in london. 10:00 p.m. in london, 11:00 p.m. in japan. >> we'll, of course, continue to keep you updated on conditions in egypt. these are pictures of tahrir square. stay tuned at the top of the hour. market plaiz middle east is next. [ man ] my retirement savings have places to go. [ male announcer ] plans...dreams... they're important to you. [ woman #2 ] our girls should focus on their future, not ours. [ male announcer ] but you can't overlook the possibility that down the road, if you needed some kind of long-term care, everything you've planned for could be at risk. so i got long-term care insurance. [ male announcer ] help protect your plans with aarp long term care insurance from genworth financial.
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battling the country's company. many businesses are closed, financial regulators halted trading and fuel and food are in short sue ply. leone lat kany has the story. >> reporter: jobs are scarce and the cost of living rising. for egypt's youth, it's call for change. >> i think that my voice is really important and my voice is going to be here today. >> reporter: about 20% of all egye egyptians live in poverty. analysts predict prices are rising at 17% a year. >> we need food, education. >> reporter: egypt faired relatively well during much of the global crisis. egypt's economy has expand birthday i more than 5%
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it's one egyptian executive says despite the current turmoil, the promise of political reform will keep investors in egypt. >> it's going to be up to the investors to bet on stability in egypt, which i think will have -- this movement has not been a movement by radicals. >> reporter: also its boomed tourism industry. they're up to $13 billion a year. now visitors are being advised to avoid major cities and investors are caution. >> if there's a democratic solution to this i think that might encourage foreign investment but that's not going to happen until people see it. that's going to take a long
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period for people to feel comfortable putting their money in there. >> reporter: here in the gulf the events in egypt are being watched closely. citizens here benefit from a vast oil well. but creating high-quality jobs for its local work force and tackling inflation remain top priorities for the governments here, especially amidst the turmoil of the broader neighborhoods. leone la kany in the middle east, abu dhabi. will it impact the global economy? i spoke to one of the leading voices in the investment community, standard charter's chief economist gerard lyons. >> you look at what happens in egypt itself and second, how that spills over to the wider
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region, and third, which is probably attracting much attention is the global communications. the cables, the suez canal, they can have a bigger impact. so the markets look at what's happening within egypt, the regional impact and the global indication, particularly the global trade group. >> it seems on the news agenda all of a sudden the economics have slid off. >> i think that is the key issue. we saw that this year. we saw it at the beginning here in egypt. the reality is that good economics is good politics, bad economics is bad politics. when the economics doesn't deliver in terms of living standards and jobs and when it's hit by things such as high food prices, people start complaining. i think this is an economic triggered event that has cascaded into a much wider demonstration. >> so if you look at the size of
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egypt and all the trade agreements it has and the fdi that's come in, do the five years of reform go out the door or can you reboot this and pick it up in six months' time. >> egypt is being interlinked not only with the rest of the region but with its big markets in the west. so the trade agreement is very positive. so i think it's case of making sure that economic policy at home is sound and stable. issues such as high food prices are addressed. employment situations, that leads to address. if you can have free trade agreement and you can start to exploit it, that's a start. before you press the panic button and go running for cover you have to have a sound assessment of it. the economy has been doing fairly well. there are clearly issues that vn been highlighted but there's no sense to think it won't be addressed with economic issues in the future. now social media brought on what many call the tipping point
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in both the revolution in tunisia and the current protest in egypt. the egyptian government has been cracking down with the internet and some mobile phones have been shut down. as well as shutting down communication it is also damaging the country's economy and its reputation. >> the government has to make a decision to shut down the new economy. they pulled the plug on mobile, they pulled the plug on the internet, probably having the intention to just take communication down. you can't do that anymore without taking the economy down. you've got to have transparency, you've got to have openness, and you have to have trust. if that doesn't exist, the rest of the equation doesn't work. so a government that would basically decide to shut down its new commerce and shut down its primary communications system is one we have to ask yours some pretty tough
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questions. >> that's joe show endorf. >> we gauge the reaction from a panel of ministers and business men and as cnn roundtable. that's coming up next. gr d t ?gae
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matains heyesy.rc g
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rising unemployment, food population and growing food inflation, the backdrop to protests in egypt and tunisia is common around the region and other emerging markets. we discuss the challenges facing the emerging economies.
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>> the gap between rich and poor in a country like egypt has widened so much that people have been to the highest lines and lowest lines. what means is the middle class goes away. when the middle class goes away, the backbone to any economy, it goes away. you make sure you create a middle class. you can't create middle class without actually having political thinking, free thinking in a society. so that's the lesson i would say all of us we should do. >> he said he had a similar experience in the mid 1990s and we have it coincide with the global crash in southeast asia, the penetration of the emerging markets. what did you learn out of that process, and how long did it take to rebuild the reputation of to country. >> i think you take the lesson that what precipitated the political crisis in the first place, it's basically about you can't have two -- have excesses, you can't have inequities, and one of the big issues at that time was crohny capital lichl.
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i would say it's take an good part of eight, ten years to what we've gotten back to. >> tunisia relying heavily, of course, on tourism receipts, so does in dough nisha. this is clearly going to have a spillover in that sort of respect as well, wouldn't you say? >> it had a dramatic effect on tourism because of the crisis. on top of that because of the last years it's thood do with terrorism. at the end of the day, poverty, we think poverty is part of the root of terrorism as well as education. so we've been addressing it at both ends. >> will there be spillover from what we see in north africa, what we see in saudi arabia? >> i do not think so. saudi arabia is a country that's connected to trading plots with china and industry and europe
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and the united states. we're building an education of roots. i think my country is not going to be easily influenced very much by this spill overbecause we have a solid foundation on which the country is built economically and plowe litticly >> what do you walk away from this experience that you've seen in the last two weeks? >> i think the main lesson is that middle class management in our community. but what is the distinction of kazakhstan as in other countries is first of all huge economic organization. we've got independence 20 years ago. we started to do economic reform based on principle for openlene of the economy and i think it's a way to protect middle class.
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>> one of the elements we've seen recently is the high birth rates of course with the youth population about two-thirds of the society. so jobless problems, of course, has percolated to the top. the second side of what we're seeing right now in the middle east but also in other markets of the world, particularly india, is food inflation. what are you doing in indonesia to try to contain this genie in the bottle? you reduce taxes on food and the second thing you do is put more money into the pocket of the poor people or you compensate. and the third thing you do is you've got to make sure your production goes up. >> once again our roundtable in switzerland. that's it for this edition of cnn "marketplace middle east,
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i'm john deaf tear yoes. thanks for watching.

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